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Installed Building Products, Inc. (NYSE:IBP) Position Cut by Amalgamated Bank

Defense World · Sep 30, 2022 04:12

Amalgamated Bank trimmed its position in Installed Building Products, Inc. (NYSE:IBP – Get Rating) by 5.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,575 shares of the construction company's stock after selling 618 shares during the period. Amalgamated Bank's holdings in Installed Building Products were worth $978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IBP. Vanguard Group Inc. lifted its position in Installed Building Products by 13.2% in the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company's stock worth $239,629,000 after purchasing an additional 329,661 shares during the period. Giverny Capital Inc. lifted its position in Installed Building Products by 152.0% in the first quarter. Giverny Capital Inc. now owns 397,624 shares of the construction company's stock worth $33,595,000 after purchasing an additional 239,866 shares during the period. Findlay Park Partners LLP lifted its position in Installed Building Products by 7.8% in the first quarter. Findlay Park Partners LLP now owns 2,005,720 shares of the construction company's stock worth $169,463,000 after purchasing an additional 144,594 shares during the period. Goldman Sachs Group Inc. lifted its position in Installed Building Products by 33.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 484,740 shares of the construction company's stock worth $67,728,000 after purchasing an additional 121,055 shares during the period. Finally, Pertento Partners LLP lifted its position in Installed Building Products by 53.9% in the first quarter. Pertento Partners LLP now owns 247,591 shares of the construction company's stock worth $20,919,000 after purchasing an additional 86,731 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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Installed Building Products Price Performance

Shares of NYSE:IBP opened at $81.54 on Friday. Installed Building Products, Inc. has a 12-month low of $69.44 and a 12-month high of $141.43. The company has a quick ratio of 1.72, a current ratio of 2.25 and a debt-to-equity ratio of 2.08. The company has a market cap of $2.34 billion, a P/E ratio of 15.16 and a beta of 1.80. The company's fifty day moving average is $93.56 and its two-hundred day moving average is $89.73.

Installed Building Products (NYSE:IBP – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.52. Installed Building Products had a net margin of 6.85% and a return on equity of 50.89%. The business had revenue of $676.70 million for the quarter, compared to the consensus estimate of $611.12 million. During the same period in the prior year, the business posted $1.59 earnings per share. Installed Building Products's revenue for the quarter was up 38.6% compared to the same quarter last year. Equities analysts expect that Installed Building Products, Inc. will post 8.26 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Wednesday, September 14th. Installed Building Products's dividend payout ratio (DPR) is presently 23.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IBP. The Goldman Sachs Group cut their price objective on Installed Building Products from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, June 23rd. StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a research report on Monday, August 8th. Stephens increased their price objective on Installed Building Products from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Monday, August 8th. Loop Capital began coverage on Installed Building Products in a research report on Thursday, August 18th. They set a "hold" rating and a $110.00 price objective for the company. Finally, BTIG Research downgraded Installed Building Products from a "buy" rating to a "neutral" rating in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $106.83.

Insider Transactions at Installed Building Products

In other news, Director Michael H. Thomas sold 2,491 shares of the company's stock in a transaction on Monday, August 8th. The shares were sold at an average price of $101.05, for a total value of $251,715.55. Following the transaction, the director now directly owns 8,669 shares of the company's stock, valued at $876,002.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.90% of the stock is currently owned by company insiders.

Installed Building Products Company Profile

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Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.